If you're a Canadian looking to use Binance, you're probably wondering:
Is Binance still legal in Canada? Can you use it safely? Are there better alternatives?

This article breaks down the current legal status of Binance in Canada, the restrictions in place, and what you can do if you're looking for a reliable way to trade or buy Bitcoin.

What Is Binance?

Binance is one of the world’s largest cryptocurrency exchanges, offering a wide range of digital assets, low trading fees, and advanced tools. But being global doesn’t always mean being available everywhere especially in a country like Canada, where financial regulations are getting stricter.

Is Binance Legal in Canada?

As of 2025 Binance is no longer legally allowed to operate in Canada.

In 2023, Binance officially withdrew from the Canadian market following new regulatory requirements from the Canadian Securities Administrators (CSA). These included mandatory registration and restrictions on stablecoins like USDT, which conflicted with Binance’s business model.

So technically:

• You can’t create a new account in Canada

• Existing users were requested to close their accounts

• The official Binance site blocks access from Canadian IPs

Why Did Binance Leave Canada?

Binance cited the new rules introduced by Canadian regulators as the main reason:

• Restriction on stablecoin trading

• Enhanced Know Your Customer (KYC) rules

• Local registration requirements

• Increased scrutiny from financial regulators like FINTRAC and OSC

Binance expressed disappointment with the new guidelines but chose to exit rather than comply.

Can I Still Access Binance in Canada?

Some users still try to access Binance using a VPN, but this is not recommended:

• It may violate Binance's terms of use

• You could lose access to your funds if caught

• You’re outside the legal protection of Canadian regulations

If you’re in Canada, using Binance now is considered a gray zone at best, and risky at worst.

What Are the Best Legal Alternatives in Canada?

Since Binance is no longer available, Canadians have turned to registered and legal platforms like:

• Shakepay  for quick BTC & ETH purchases with Interac e-Transfer

• Bitbuy  a regulated exchange with more trading options

• NDAX  offering a wide range of cryptocurrencies in compliance with Canadian laws